Shares of Copart, Inc. (NASDAQ:CPRT - Get Free Report) reached a new 52-week low during trading on Tuesday . The company traded as low as $47.93 and last traded at $47.99, with a volume of 310381 shares trading hands. The stock had previously closed at $48.39.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on CPRT shares. JPMorgan Chase & Co. lowered their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Argus cut shares of Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.
Read Our Latest Analysis on CPRT
Copart Price Performance
The firm has a market capitalization of $46.65 billion, a price-to-earnings ratio of 32.38 and a beta of 1.10. The firm's 50-day moving average price is $57.46 and its 200 day moving average price is $57.32.
Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Copart had a net margin of 32.27% and a return on equity of 19.31%. The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the company earned $0.39 EPS. The business's quarterly revenue was up 7.5% compared to the same quarter last year. On average, analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.
Insider Activity at Copart
In related news, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $60.01, for a total value of $300,230.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Meeks sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 200,000 shares of company stock worth $11,401,000. 9.68% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Copart
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Copart by 2.1% in the first quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock worth $5,900,295,000 after acquiring an additional 2,134,890 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Copart by 3.3% during the first quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock worth $2,230,177,000 after purchasing an additional 1,249,687 shares during the period. Edgewood Management LLC lifted its stake in Copart by 14.1% during the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock worth $1,346,548,000 after purchasing an additional 2,907,405 shares during the period. Capital World Investors increased its holdings in shares of Copart by 0.8% during the fourth quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock worth $1,225,502,000 after buying an additional 169,354 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Copart by 23.3% during the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock worth $1,115,664,000 after buying an additional 3,667,534 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.
About Copart
(
Get Free Report)
Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.
Further Reading
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